Virgin Music Group (VMG) today announced the completion of its acquisition of Downtown Music Holdings LLC (Downtown), marking a significant milestone in the creation of a global, end-to-end solution that meets the evolving needs of independent entrepreneurs, artists, and rights holders. At the same time, Pieter van Rijn was appointed Chief Operating Officer, having been CEO of Downtown since last year. He will report to co-CEOs Nat Pastor and JT Myers and will continue to be based in Amsterdam.

Read the full press release on the Downtown Journal.